Statement: Democrats' Pledge to Boost the Federally-Mandated Minimum Wage is Counterproductive to Helping Families on the Brink

Victoria Coley

STATEMENT

DEMOCRATS' PLEDGE TO BOOST THE FEDERALLY-MANDATED MINIMUM WAGE IS COUNTERPRODUCTIVE TO HELPING FAMILIES ON THE BRINK

(Washington, D.C.) -- Today, a Democratic bill to raise the federally-mandated minimum wage failed in a key procedural vote on the Senate floor - 54-42. In a continued effort to set the record straight about how best to help women and families on the brink Independent Women’s Forum releases the following statements:

"Progressives are promoting raising the minimum wage as a common sense way to alleviate poverty and help women on the brink. But while hiking the minimum wage may sound compassionate, it's not. It will destroy job opportunities desperately needed for workers with few skills. How is it compassionate to put more people on unemployment rolls and ensure that fewer and fewer entry level jobs are available for those who desperately need job experience?

"We all want to solve the real problem of people - especially women - living in porverty. But the biggest reason people live in poverty is not because they're forced into low-paying jobs. It's stead because they don't have consistent, paid employment.

"We all want to do what is fair for hard-working Americans, especially in this difficult economic time. But the best way to help those struggling in today's economy is not to raise the minimum wage by a couple of dollars. That may mean a pay bump for some, but it would mean unemployment for hundreds of thousands of others. The last thing our government should be doing today is to make it more difficult for employers to create jobs and keep employees."

"Rather than destroy untold numbers of low-income jobs by increasing the minimum wage to $10.10, Congress should expand and improve the Earned Income Tax Credit as a way to help those working for low-wages today. The EITC carries bipartisan support and has proven its ability to alleviate poverty, help unemployed people get paying jobs, boost the prospects of those currently working for low wages, and increase individual worker’s bargaining power.

"The EITC is a “refundable” credit, which means it can be delivered to beneficiaries (low-income workers) as a direct payment if their net federal-income-tax liability is zero. Every year it lifts millions of Americans above the official poverty line by incentivizing them to work and then augmenting their wages. As a result, the EITC has become Washington’s most widely celebrated anti-poverty tool, and it has been expanded by Republican and Democratic presidents alike. While hardly perfect--it is too complex and imposes high marginal taxes and marriage penalties on certain recipients--it is a better vehicle for fighting poverty than the minimum wage."

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Independent Women’s Forum’s mission is to improve the lives of Americans by increasing the number of women who value free markets and personal liberty. Sister organization of Independent Women’s Voice.